What if your business was buying and selling domain names? How good would it be for your overheads if you could cut the cost of renewing domain names to zero? Pretty darn good, right?
Here’s how it can be done on TDNAM.com, Godaddy’s domain name aftermarket where you can buy domains that are droppping because they have expired, or you can buy domains from sellers reselling privately.
Firstly, forget about domains held by Godaddy that are simply dropping. This free renewal technique will only work with private sellers.
Here’s what you do – find a $10 domain listing and check when it is due to expire. If it’s a Godaddy listing of a dropped domain it will show as expired so you can ignore it and move on. What you are looking for is a domain that has a few months left to run before it is due for renewal. This tells you it is being sold by a private seller and allows you to set up your free renewal.
For our purposes here, only bid $10 – there are plenty that go for the bare minimum price so don’t bid any higher. If you win the auction, you are halfway towards getting your domain renewed for free by the seller!
Here’s how. Ignore the seller’s attempts to contact you about the domain. What you want is for the seller to still be in possession of the domain when it comes time to renew it. Now the seller has two choices – renew the domain for you for free or allow it to expire when the time comes. If the seller renews the domain you then claim the domain you bought along with your free renewal (hopefully, the seller renewed the domain for more than one year) or you file a dispute with tdnam and ask for your money back. They will do all the work for you! If the seller refuses to refund the money, tdnam suspends their account!
In the meantime you can of course, try flipping (selling) the domain name. Either way, you either don’t spend a penny or you snatch a domain name with a full year or more left to run! Best of all, it’s all perfectly legal!
The seller is the one who ends up out of pocket either because they have unwittingly renewed your domain for free or have had to refund tdnam the cost of the sale plus fees – in effect, the full $10 selling price of the domain, even though the seller only received $5 from the sale.
By now you probably think I’m some kind of scammer. You would of course be wrong. I found out about this the hard way. Bringing it to light is the only way I know of to force a change to the way things get done and bring an end to what I believe to be unsavoury practice.
Update – tdnam refunded me $5 of the $10 I had to pay them to reopen my tdnam account. At least I’m not out of pocket any longer.